According to market sources, demand received by domestic producers in the local Turkish cold rolled coil (CRC) market is still weak, while producers' CRC prices have remained unchanged over the past week at $535-545/mt ex-works, excluding VAT, and for July production. With the increases seen in import CRC offers to Turkey, local producers are unwilling to reduce their prices.
On the other hand, demand for CRC in the local Turkish spot market is also still sluggish, while traders' prices have declined by $10/mt over the past week amid weak demand conditions and cash flow problems. Turkish traders' prices have declined by $77.5/mt since the beginning of 2015.
Meanwhile, spot CRC prices in the local Turkish market for May deliveries are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 590-615 | 595-610 |
0.7-2 mm CRC | 550-565 | 560-575 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.